MFE Trailing Stop in % percentage

Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • 03/24/2018 at 2:33 PM #66249 quote
    Inertia
    Participant
    Master

    Hi,

    I was wondering how I could replace the vlue in pts by an “x%” instead from the MFE ?

    //trailing stop
trailingstop = 20
 
//resetting variables when no trades are on market
if not onmarket then
 MAXPRICE = 0
 MINPRICE = close
 priceexit = 0
endif
 
//case SHORT order
if shortonmarket then
 MINPRICE = MIN(MINPRICE,close) //saving the MFE of the current trade
 if tradeprice(1)-MINPRICE>=trailingstop*pointsize then //if the MFE is higher than the trailingstop then  
  priceexit = MINPRICE+trailingstop*pointsize //set the exit price at the MFE + trailing stop price level
 endif
endif
 
//case LONG order
if longonmarket then
 MAXPRICE = MAX(MAXPRICE,close) //saving the MFE of the current trade
 if MAXPRICE-tradeprice(1)>=trailingstop*pointsize then //if the MFE is higher than the trailingstop then
  priceexit = MAXPRICE-trailingstop*pointsize //set the exit price at the MFE - trailing stop price level
 endif
endif
 
//exit on trailing stop price levels
if onmarket and priceexit>0 then
 EXITSHORT AT priceexit STOP
 SELL AT priceexit STOP
endif
    03/24/2018 at 4:37 PM #66261 quote
    Nicolas
    Keymaster
    Master

    It suffices to express the variable trailingstop converts to a point from a previously calculated data in percentage.

    For a trailingstop of 1%:

    Trailingstop = (close * 0.01)/pointsize

    Inertia thanked this post
    03/24/2018 at 7:28 PM #66275 quote
    Vonasi
    Moderator
    Master

    English speaking only in the English language forum please!

    Sorry Nicolas but I just could not stop myself posting this! 🙂

    03/24/2018 at 9:50 PM #66284 quote
    Inertia
    Participant
    Master

    Excellent Nicolas (FR UK ok 😉 )

    03/25/2018 at 4:04 PM #66352 quote
    Nicolas
    Keymaster
    Master

    Ok guy! you got me! (Post edited) 😆

    Vonasi thanked this post
  • Author
    Posts
Viewing 5 posts - 1 through 5 (of 5 total)
  • You must be logged in to reply to this topic.

MFE Trailing Stop in % percentage


ProBuilder: Indicators & Custom Tools

New Reply
Author
author-avatar
Inertia @inertia Participant
Summary

This topic contains 4 replies,
has 3 voices, and was last updated by Nicolas
7 years, 10 months ago.

Topic Details
Forum: ProBuilder: Indicators & Custom Tools
Language: English
Started: 03/24/2018
Status: Active
Attachments: No files
Logo Logo
Loading...
Do you like cookies? 🍪 We use cookies to ensure you get the best experience on our website. (Learn more)
©2026 ProRealCode - Trading & Coding with ProRealTime™